Shows like Shark Tank and Dragon’s Den introduce us to a variety of unique products and patents that we might not have known otherwise. Among them, iGlove is a name that stands out, thanks to its amazing marketing and unique product idea.
How often does it happen that you are in a country with freezing temperatures and wanting to operate your smartphones and touchscreen devices becomes a hassle during that cold weather condition.
This article will further explore everything you need to know about iGlove, its appearance on Dragon’s Den, and how the brand is doing after.
About the Founder
The founder of iGlove and the person behind the product is Rajan Kumar Jerath. Besides being behind this company, Rajan is also the owner of Jerath Holdings, a company that is based out of Newcastle, UK.
When you look up Rajan Jerath online, there’s not much information to unfold besides the fact that he is a tech enthusiast and a master entrepreneur and investor that is known for optimizing business ideas and making them a reality.
The concept of iGlove is not unique but very out of the box and unconventional. Don’t get deterred by the name of the product because it is not inspired by any Apple product.
That said, the main concept behind the iGlove is to keep your hands and fingers toasted while also offering you a grip on the fingertips so you can operate your smart devices and touchscreen devices without any hassle.
Designed with a 7% silver compound around the fingertips, the product is perfect for individuals living in cold weather conditions. There are not a lot of insights regarding how the idea came to Rajan and its course of product development.
On Dragon’s Den
Rajan took his product, iGlove on Dragon’s Den in 2015, which is where he presented his product, explained its work mechanism, and as for £75,000.
While most of the dragons liked the idea behind the product, Dragon Peter Jones raised concerns surrounding the legal issues given that they prefixed the product’s name with “i”, something that Apple could sue for.
However, Duncan Bannatyne refuted the same and proposed a counteroffer to Rajan, where he wanted to pay £75,000 for 40% equity in the company.
After Dragon’s Den
With the initial deal that was proposed by Duncan, reports suggest that the deal didn’t go through. Coming to what happened after Dragon’s Den, the product is currently available on their official website.
You can find products as cheap as £5.99 and there are leather ones, which are slightly more expensive but equally worth the price. There is a Bluetooth-compatible variant as well, which is mind-blowing.
The company seems to be doing fairly well with their products and they have generated over £125,000 in sales and revenue, which is quite impressive. We don’t have much idea as to how the company is valued since they haven’t revealed any latest reports surrounding the same yet.
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